Tag: Virgin Galactic

Flight anomalies occurred during Branson’s suborbital flight in July

9:08 am

Capitalism in space: According to a New Yorker story today, the suborbital flight of Richard Branson in July experienced several flight anomalies that the article suggests should have caused it to end early before reaching space.

The rocket motor on Virgin Galactic’s ship is programmed to burn for a minute. On July 11th, it had a few more seconds to go when a red light also appeared on the console: an entry glide-cone warning. This was a big deal. I once sat in on a meeting, in 2015, during which the pilots on the July 11th mission—Dave Mackay, a former Virgin Atlantic pilot and veteran of the U.K.’s Royal Air Force, and Mike Masucci, a retired Air Force pilot—and others discussed procedures for responding to an entry glide-cone warning. C. J. Sturckow, a former marine and nasa astronaut, said that a yellow light should “scare the [“#$%#] out of you,” because “when it turns red it’s gonna be too late”; Masucci was less concerned about the yellow light but said, “Red should scare the crap out of you.” Based on pilot procedures, Mackay and Masucci had basically two options: implement immediate corrective action, or abort the rocket motor. According to multiple sources in the company, the safest way to respond to the warning would have been to abort. (A Virgin Galactic spokesperson disputed this contention.)

Aborting at that moment, however, would have dashed Branson’s hopes of beating his rival Bezos, whose flight was scheduled for later in the month, into space. Mackay and Masucci did not abort.

Virgin Galactic’s response, including the FAA’s statement, can be found here. The company noted that the flight deviation occurred because of unexpected high altitude winds. The FAA’s comment I think provides some reasonably perspective:
» Read more

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Branson sells more than ten million shares of Virgin Galactic

10:07 am

Capitalism ?in? space? Continuing his steady off-loading of Virgin Galactic stock since the company went public, Richard Branson has sold another 10.5 million shares, lowering his steadily shrinking ownership share another 4% to 18% total.

The sale garnered him $300 million in cash.

When the company went public in 2019, Branson reserved for himself 51% ownership. Since then he has periodically sold off large chunks, usually well timed to specifically planned events that worked to pump up the stock’s price. This last sale obviously was planned to take advantage of the publicity following Branson’s own suborbital flight in July.

While Virgin Galactic might have a future in suborbital space tourism, I remain very skeptical. It certainly does not have a future in the larger orbital market, as it has no experience building real rockets (Virgin Orbit was spun off this company years ago, taking with it all that experience). Thus, the company has very limited possibilities. As the orbital market grows and becomes dominant, I can’t see there being that much long term interest in short suborbital hops.

I think Branson agrees with me, which is why he is getting out when the getting is good. That he is following the classic and very corrupt method of “pump and dump” only solidifies my belief that he is an outright con-man.

That the mainstream press continues to genuflect before him only tells us how corrupt and incompetent that press has become.

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Virgin Galactic reopens suborbital ticket sale, raises price, delays next flight

10:01 am

Capitalism in space: Virgin Galactic announced yesterday that it is resuming ticket sales for flights on its reusable SpaceShipTwo spacecraft, raising the price from the old price of $250,000 to a new price of $450,000.

Virgin Galactic is offering customers three options: purchase a single seat, buy several together or book an entire flight on the eight-passenger Unity (or other space planes that come into operation, such as the recently built VSS Imagine). The company also sells seats for microgravity research and professional astronaut training. Those are in a different tier, going for $600,000 apiece, Colglazier said during a call with investors on Thursday afternoon.

The announcement also revealed that they are delaying their next flight until September. That flight has been scheduled for the summer for months. The company is also delaying the start of regular commercial flights until late in ’22, in order to make some upgrades to their spacecraft.

By that time, regular orbital tourist flights will have become almost routine. Moreover, one has the option to experience weightlessness for far less buying a ticket on one of the various companies that fly “vomit comet” airplanes.

One wonders if the demand for these flights will be sustainable. We shall see.

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Virgin Galactic shares crash after Branson flight

8:44 am

Capitalism in space: The price of the stock for Virgin Galactic plummeted 17% shortly after Richard Branson’s flight on July 11th, experiencing its worst day in more than a year.

The drop occurred shortly after the company announced it was going to sell an additional $500 million in new shares.

Virgin Galactic, which trades under the ticker SPCE, fell 17.3% after it filed notice of its stock sale offering with the Securities and Exchange Commission. Trading in Virgin Galactic was briefly halted Monday morning due to volatility.

The drop in price is likely a reflection of several things, none of which reflects negatively on the overall bright picture for commercial space. First, the release of new stock meant the supply was greater than demand, and thus the price dropped. Second, Branson’s flight, while grand, also highlighted its limitations. While there certainly appears to be a market for suborbital tourism, I suspect the arrival of regular and likely increasingly cheaper orbital flights will cut into this market. In comparison, a short five minutes of weightlessness cannot compare with spending a week in orbit.

Third, Virgin Galactic as a company has nowhere to go. The rocket is essentially an engineering dead end. It can do suborbital flights relatively cheaply and quickly, but the demand for such flights is limited, especially with the arrival of relatively cheaper orbital access.

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The bell of freedom rings in space

12:31 pm

The Liberty Bell
“Proclaim liberty throughout all the land unto all
the inhabitants thereof.” Photo credit: William Zhang

Not surprisingly the mainstream press today was agog with hundreds of stories about Richard Branson’s suborbital space flight yesterday on Virgin Galactic’s VSS Unity spaceplane.

The excitement and joy over this success is certainly warranted. Back in 2004 Branson set himself the task of creating a reusable suborbital space plane he dubbed SpaceShipTwo, modeled after the suborbital plane that had won the Ansari X-Prize and intended to sell tickets so that private citizens would have the ability to go into space.

His flight yesterday completed that journey. The company he founded and is slowly selling off so that he is only a minority owner now has a vehicle that for a fee can take anyone up to heights ranging from 50 to 60 miles, well within the U.S. definition of space.

Nonetheless, if you rely on the media frenzy about this particular flight to inform you about the state of commercial space you end up having a very distorted picture of this new blossoming industry. Branson’s achievement, as great as it is, has come far too late. Had he done it a decade ago, as he had promised, he would have achieved something historic, proving what was then considered impossible, that private enterprise, using no government resources, could make space travel easy and common.

Now, however, he merely joins the many other private enterprises that are about to fly into space, with most doing it more frequently and with far greater skill and at a much grander scale than Virgin Galactic. His flight is no longer historic. It is merely one of many that is about to reshape space exploration forever.

Consider the upcoming schedule of already paid for commercial manned flights:
» Read more

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Virgin Galactic finally flies Richard Branson on its reusable suborbital Unity spacecraft

12:05 pm

Capitalism in space: After almost two decades of development and almost as many false promises by Richard Branson, Branson today finally flew on his SpaceShipTwo ship dubbed VSS Unity.

Unity was taken to about 45,000 feet by the carrier airplane WhiteKnightTwo, where it was released and its engines fired.

Once VSS Unity’s rocket engine cut off, the spacecraft’s momentum took it to an altitude of around 90 kilometers. This is above the minimum altitude of 80 kilometers required by the US Air Force, NASA, and the FAA to grant astronaut wings, and is above the discernible atmosphere. This apogee, or maximum altitude, is below the Federation Aeronautique Internationale (FAI) recognized boundary of space at 100 kilometers, which SpaceShipOne crossed twice to claim the X-Prize in 2004.

The craft spent around five minutes in weightlessness, with the crew evaluating the experience and looking at Earth and space from 17 windows on the craft, before they strapped back into their seats for reentry.

I have embedded below the fold the NASASpaceflight.com live feed, cued to just before Unity was dropped from WhiteKnightTwo. The commentary is far less offensive than the blather on the official live feed, but they end up losing the view from their live feed and switched to the Virgin Galactic live feed, rewinding it to pick it up just before the drop. You then see that feed, with good images and with all the blather, but no interior video during the weightless period. I suspect they want to edit that footage before releasing it, just in case anyone had vomited or Branson looked uncomfortable in any way.

Overall, Virgin Galactic deserves congratulations for finally accomplishing this flight. That it took so long and occurred just before the start of commercial manned orbital flights unfortunately pops the balloon on this achievement. The flight was so short that it now seems somewhat disappointing compared to the upcoming orbital tourist flights.

The next suborbital flight by Blue Origin on July 20th, and unlike today’s Virgin Galactic flight, will carry the first paying passenger, making it the first wholly financed and built private commercial space flight.
» Read more

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Watching Virgin Galactic’s suborbital flight on July 11th

10:24 am

Capitalism in space: Virgin Galactic has now made available the live stream for its planned suborbital flight on July 11th that will also carry the company’s founder, Richard Branson.

I have embedded the live stream below the fold. Though the company has not announced an actual launch time, according to that stream the broadcast is now scheduled to begin at about 9 am (Eastern). The flight itself should last about ninety minutes total, from takeoff of the carrier airplane to landing of both it and the suborbital spacecraft, VSS Unity.

The weightless portion of the flight will last about four minutes or so. Unity will get to more than 50 miles altitude, which meets the American definition of space but not the international standard of 67 miles. For more details about the flight, see this Space.com article.

Expect the broadcast to be filled with endless hype and blather about how “spectacular” and “amazing” and “wonderful” Virgin Galactic is. And yes, what the company is doing is very cool, a privately financed manned spacecraft capable of reaching space, returning to Earth, and then flying again. Unfortunately, both suborbital companies (Virgin Galactic and Blue Origin) seem to think they have to convince people of this obvious fact on their broadcasts, and scream it at the viewers endlessly. They would be wiser to take SpaceX’s soft-sell approach: State once what they are accomplishing and then simply report on what actually happens, with no breathless commentary.

I don’t expect that to happen however. Thus, I’m not sure I can stomach hours on end of Virgin Galactic PR hype on Sunday, especially considering that this spaceflight by Branson is more than a decade late. His own endless hype for the last fifteen years, promising over and over again that he would be flying in mere months, has soured me from any desire to listen to more. Maybe I’ll go on a hike instead.
» Read more

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FAA approves commercial launch license for Virgin Galactic

9:09 am

Capitalism in space: FAA today approved Virgin Galactic’s commercial launch license, allowing it to fly commercial paying tourists on its suborbital spacecraft, VSS Unity.

When Virgin Galactic will begin doing so remains uncertain. There have been rumors that the company is thinking of quickly scheduling a flight carrying Richard Branson for July 4th, thus beating Jeff Bezos’s planned July 20th into space. However, the company has denied this, referring back to its announced schedule.

Virgin Galactic has previously set out a schedule for this year, as it continues to mold the kind of service it plans to offer its commercial customers. This would see four of the company’s employees climb aboard Unity (along with the two pilots) for the next flight, to get a sense of the experience that future ticketed passengers will enjoy.

The flight after that is likely to see Sir Richard himself go to the edge of space, as a statement of readiness for commercial service.

And it’s then on the subsequent outing that the company is expected to start earning revenue from carrying people – although this is a mission that has been block booked by the Italian Air Force, which is going to put several payload specialists aboard Unity to supervise a number of microgravity experiments.

Regardless of when Branson’s first flight will be, that first commercial flight will come about fourteen years after the date Branson first predicted for such a flight. In 2004 he predicted he would fly by 2007 after hundreds of test flights, followed then by more hundreds of commercial flights each year. None of that ever happened, nor does it look like the flight numbers will ever approach his prediction.

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Investors sue Virgin Galactic for stock fraud

9:55 am

Capitalism in space: A federal complaint has been filed against Virgin Galactic, claiming the company made false and misleading reports concerning its financial state.

Investor Shane Levin and other unnamed plaintiffs claim in their complaint that Virgin Galatic CEO Michael Colglazier, former CEO George Whitesides, CFO Doug Ahrens and former CFO Jon Campagna knowingly presented incorrect financial statements to inflate the company’s stock price and entice buyers.

The lawsuit is seeking class-action status and unspecified damages, in addition to legal fees.

Also today an anonymous source claimed that, assuming Virgin Galactic can get FAA approval, the company has suddenly changed its test flight schedule and is now planning to fly Richard Branson on its SpaceShipTwo Unity spacecraft on July 4th. This would have Branson reach suborbital space about two weeks ahead of Jeff Bezos, who is presently scheduled to fly on a suborbital flight his own New Shepard spacecraft on July 20th.

Branson for almost two decades has promised he would fly on the first commercial operational flight of SpaceShipTwo, while also promising repeatedly that this flight was only months away. All of those promises were bunkum. Now faced with Jeff Bezos grabbing that first flight, Branson is suddenly scrambling to finally get it done, even if it means disrupting Virgin Galactic’s already announced test schedule.

The first story above tells us something about the honesty of Virgin Galactic’s finances. The second story tells us something about the trustworthiness of its management and engineering. I might consider the pace of Blue Origin in the past five years to have been far too slow, but they have at least shown a careful deliberate path to flight. Bezos’ July 20th flight might be a stunt, but it is being done to demonstrate his trust in his product.

Not so much from Branson and Virgin Galactic. For Branson, feeding his ego seems more important.

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Bezos to fly on first manned New Shepard suborbital flight in July

8:52 am

Capitalism in space: Jeff Bezos announced today that he and his brother Mark will be passengers on the first manned commercial New Shepard suborbital flight, now scheduled to launch on July 20th.

“I want to go on this flight because it’s a thing I wanted to do all my life. It’s an adventure. It’s a big deal for me,” Bezos says in the brief video.

In that video, Bezos asks his younger brother Mark, to accompany him on the flight. “I think it would be meaning to have my brother there,” he said.

Mark Bezos accepted. “I wasn’t even expecting him to say that he was going to be on the first flight,” he said in the video. “And when he asked me to go along, I was just awe-struck.”

Right now the high bid in the auction for the other passenger seat remains stuck at $2.4 million. The bidding ends on June 12 with a live auction instead of an online one, but it appears that whoever bid that amount has no competitors and will be the passenger.

As for Bezos’ flight, his announcement means he will beat out Richard Branson for this honor. Bezos’ victory is especially embarrassing to Branson, who had been promising everyone that he would be the first suborbital passenger on his Virgin Galactic SpaceShipTwo suborbital spacecraft for almost twenty years. Those promises were bunkum. Bezos meanwhile made no such promises, and will deliver.

If you had to choose between these two car salesmen, who would you pick?

I however would choose neither. These suborbital car salesmen are fighting over the honors to launch what is equivalent to a rowboat. Elon Musk’s SpaceX is meanwhile building the equivalent of an ocean liner (Starshp) even as it is about to launch the equivalent of the first passenger steam ship (Falcon 9 with paying civilian passengers). I pick Musk.

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A detailed review of Virgin Galactic

9:03 am

Link here. The article not only provides a thorough review of the company’s most recent test flight and what it did and did not accomplish, it takes a look backward to reevaluate Virgin Galactic’s history, including the many engineering problems in the past few years that have slowed development and risked lives.

The most shocking aspect of this story is this fact:

The fact that VSS Unity was broken was never disclosed to Social Capital shareholders who approved the merger, or to investors who bought the stock after the merged companies went public under Virgin Galactic’s name on the New York Stock Exchange on Oct. 28, 2019.

The source who revealed the near-fatal February 2019 flight to Parabolic Arc questioned whether withholding that information from shareholders was legal under securities laws. A number of law firms have launched investigations into Virgin Galactic recently. Their primary focus seems to be the steep drop in the company’s stock price earlier this year. (It has rebounded sharply since the flight test.) But, perhaps they will carefully review the company’s public disclosures regarding the condition of VSS Unity.

In reviewing the building competition between Virgin Galactic and Blue Origin to fly the first commercial passengers, the article also confirms many of the same observations I have made about both companies.

Read it all. It shines light beyond the pr blather that you will get from most modern media as they rewrite press releases.

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Virgin Galactic finally makes manned flight from New Mexico

10:30 am

Capitalism in space: More than a decade later than initially promised, Virgin Galactic today finally made its first successful manned flight from Spaceport America in New Mexico.

The flight apparently reached 55 miles altitude before returning to Earth.

This was the first flight of VSS Unity since December 12, 2020, when the flight was aborted just one second after separating from its carrier airplane, WhiteKnightTwo, when a computer disconnected unexpectedly. Further delays followed:

The problems didn’t stop there, as in early May, a new issue crept up as a post-flight inspection of VMS Eve called for further engineering analysis to assess a known problem in the tail of the vehicle which was to be addressed during the next scheduled maintenance period. The company says that they have completed the analysis and determined that the structures are healthy and cleared Eve for flight.

Their plans are to do one more test flight, and then a “commercial” flight carrying company founder Richard Branson. Following that they will begin selling and flying tourists.

It appears however that they will have lost the race to fly the first suborbital tourist in space, as it appears that Blue Origin’s July 20th commercial flight will happen first.

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Virgin Galactic reveals issue with WhiteKnightTwo

9:43 am

Capitalism in space: On the same day that Virgin Galactic unveiled a $130 million loss in its first quarter report, it also announced that it might have to delay the next flight of its Unity suborbital spacecraft because of an undisclosed “wear-and-tear issue” on its carrier airplane.

From the second link:

[Mike Moses, president of space missions and safety], in response to later questions from analysts, did not disclose the specific component of the aircraft that was at the heart of the issue, but described it as a “family of items that relate to fatigue and long-term stress” of the airplane. It was not an issue with the number of flights of VMS Eve, which first flew in 2008 and has made fewer than 300 flights since.

Engineers are currently examining the plane to determine if additional maintenance is needed now to correct that problem, with an update expected next week. Virgin Galactic had planned to perform work on the plane this fall during a downtime that would also include work on VSS Unity, but Moses said engineers are now looking at whether some of that work needs to be moved up.

If maintenance is needed now, it would delay the schedule of flight tests for SpaceShipTwo, but Moses said it was “a little too early” to know how long that would be.

They had previously announced that the next flight would be in May. They will decide in the next week whether to delay it.

Meanwhile, the company’s stock price continues to tumble, dropping from a high of about $62 earlier this year to a low of about $14 today. And I would say that the price is still over-priced. The path to profit for Virgin Galactic has become extremely narrow, with few options and not much margin, especially with Blue Origin now only two months away from its first commercial suborbital tourist flight.

Richard Branson started Virgin Galactic shortly after the SpaceShipOne won the Ansari X-Prize in 2004, promising hundreds of commercial passenger flights per year in only a few years. Seventeen years later no such flights have ever occurred. Worse, not only will Blue Origin likely do the first commercial suborbital flight first, SpaceX and Axiom are likely to complete the first orbital tourism flights before Virgin Galactic.

No harm to Branson however. He has sold off most of his stock in the company, and did it when its price was still high.

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Virgin Galactic under investigation by law firm

10:12 am

Labaton Sucharow, a law firm that specializes in “representing clients in securities, antitrust, corporate governance and shareholder rights, and consumer cybersecurity and data privacy litigation,” has opened an investigation into Virgin Galactic’s decision on May 3rd to delay the release of its first quarterly report by six days.

Labaton Sucharow, a nationally ranked and award-winning shareholder rights law firm, is investigating potential securities violations and breach of fiduciary duty claims against Virgin Galactic Holdings Inc. (NYSE:SPCE).

On May 4, Virgin Galactic Holdings Inc. closed down over 9% on enormous volume after the space tourism company said it would restate certain past financial results in the wake of recent comments by the Securities and Exchange Commission on the accounting treatment of deals involving special-purpose acquisition companies.

The stock price is still falling, by the way.

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Virgin Galactic delays quarterly earnings report

8:44 am

Waiting for Godot: Even as Blue Origin is finally about to announce the start of commercial ticket sales for its New Shepard suborbital spacecraft, Virgin Galactic has delayed release of its first quarter earnings report so that it will be released after, not before, that Blue Origin announcement.

Virgin Galactic claims the six day delay is in order to adjust numbers due to a new SEC requirement announced in mid-April. However, placing it after Blue Origin’s announcement instead of just the day before minimizes what would have been a very ugly-looking public relations disaster.

Whatever the actual reason for the delay, the prospect of delivering yet another dismal earnings report only hours before Blue Origin’s announcement could not have been an attractive one for Virgin Galactic CEO Michael Colglazier and new CFO Doug Ahrens. The quarterly earnings call is a major opportunity to influence Wall Street analysts who make recommendations on whether to buy or sell the company’s stock.

Virgin Galactic is expected to report a significant loss with minimal or no revenues as it struggles to complete the flight test program for its SpaceShipTwo suborbital vehicle, VSS Unity. Virgin Galactic’s net lost was $273 million for 2020, including a $74 million net loss for the fourth quarter.

Virgin Galactic’s stock has been taking a pounding lately. After opening at $10.75 on the first day of trading on Oct. 28, 2019, the stock soared to a high of $62.80. It is now trading at $22.15, having lost all of its gains for the year.

That both Richard Branson, the company’s founder, and Chamath Palihapitiya, the big investor when the company went public, have both sold off large portions of their stock in the past few months has also contributed to the bad press. Both took advantage of the high stock prices and apparently got out when the getting was good.

I fully expect this company to fail in the next year or two. If it doesn’t it surely will never achieve any of the many grandiose promises put forth by Branson for almost two decades.

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Branson sells off more of his Virgin Galactic stock

9:40 am

He’s getting out while the getting is good: In the past three days Richard Branson sold another $150 million worth of his Virgin Galactic stock.

The stock price for these sales was about $27, more than twice the value when the company went public in November 2019.

Including his stock sales in May ’20, Branson has now sold about 30% of his share in the company, leaving him holding only about a 20% share. Essentially, Virgin Galactic is no longer his company.

Meanwhile, Virgin Galactic now says it will not begin tourist flights until ’22. Whether it can survive that long is another question. It certainly hasn’t delivered on any of Branson’s endless grandiose promises, beginning almost two decades ago in 2005.

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Virgin Galactic’s chairman sells all of his stock in the company

8:43 am

Getting out when the getting is good: The chairman of Virgin Galactic who was part of the deal that allowed the company to go public has now sold all of his stock in the company.

Billionaire investor Chamath Palihapitiya sold his entire personal stake in Virgin Galactic this week, a regulatory filing revealed on Friday.

The space-tourism company’s chairman cashed out his 6.2 million shares at an average price of $35, netting him around $211 million. Palihapitiya, along with his business partner Ian Osborne, still indirectly own 15.8 million shares via SCH Sponsor Corp, their investment vehicle.

Palihapitiya previously sold 3.8 million Virgin Galactic shares in December, tweeting that he needed to free up cash to fund several new projects this year.

Like Branson, this guy took the company public, made some absurd claims about its future, got several Wall Street analysts to rave about his plans, and then when the stock was high because of these fake promises, got out. He knows, as did Branson, that Virgin Galactic has practically a zero chance of making a dime in the future. He just worked a con to use it to make him some cash on the backs of a lot of other stock buyers who should have known better.

This company might fly a few paying customers on some suborbital flights, but its long term future is very bleak.

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Virgin Galactic delays its next suborbital flight again

9:04 am

Capitalism in space: Virgin Galactic announced yesterday that it is now delaying the next manned flight of its suborbital Unity spaceship in order to address what appear to be still unresolved technical problems that almost caused the last manned flight to crash.

In an earnings call Feb. 25 timed to the release of its fourth quarter and full year 2020 financial results, company executives blamed an aborted test flight of SpaceShipTwo Dec. 12 on electromagnetic interference (EMI) that caused a flight computer to reboot just as the vehicle ignited its hybrid rocket engine. The vehicle glided to a safe landing at Spaceport America in New Mexico.

Mike Moses, president of Virgin Galactic, said a new flight control computer system is the likely source of increased levels of EMI. The company took steps to shield components from that interference to avoid a similar reboot and prepared to make a powered test flight as soon as Feb. 13. But in the final days of preparations, technicians noted continued EMI issues with vehicle systems.

The flight they had hoped to do this month has now been pushed back to May. They have also announced that then devote the rest of this year doing more test flights and will hold off any tourist flights until ’22.

Michael Colglazier, chief executive of Virgin Galactic, said the company is sticking to the flight test program it announced last fall. The May flight will be followed by two more: one with two pilots and a “full cabin” of company employees to test the passenger cabin of the vehicle, followed by one with company founder Richard Branson on board. Colglazier said the company isn’t yet announcing specific dates for those flights, but expects both to take place this summer.

That will be followed by a flight for the Italian Air Force, confirming an agreement signed in October 2019. That flight will carry a set of research payloads and three Italian payload specialists, and generate revenue for the company. Colglazier said that flight would likely take place in late summer or early fall and generate revenue for the company, “and will conclude our product test program.”

The company also claims that its second SpaceShipTwo spacecraft will begin testing this summer.

We shall see. The track record of this company has been abysmal, and its been that way for almost two decades of non-achievement.

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Virgin Galactic almost lost its 2nd SpaceShipTwo in 2019 flight

9:45 am

Capitalism in space: According to a book to be published in May, Virgin Galactic had serious previously unrevealed problems during its 2019 manned flight of VSS Unity, ist 2nd SpaceShipTwo suborbital spaceship, problems that could have killed all on board.

[W]hen the ground crew wheeled the suborbital spacecraft back into the hangar, company officials discovered that a seal running along a stabilizer on the wing designed to keep the space plane flying straight had come undone — a potentially serious safety hazard. “The structural integrity of the entire stabilizer was compromised,” Todd Ericson, a test pilot who also served as a vice president for safety and test, said, according to a soon-to-be-published book. “I don’t know how we didn’t lose the vehicle and kill three people.”

Much more at the link. It does appear that the company was not doing due diligence prior to the flight, signing off inspections without actually doing those inspections.

The issue caused the long delay since that flight. That it was kept secret as the company went public and offered its stock for sale likely breaks some SEC laws.

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Blue Origin aims for first manned suborbital flight in April

8:41 am

Capitalism in space: According to this CNBC report, Blue Origin is now targeting its first manned suborbital flight of New Shepard by April, after completing one more unmanned test flight in late February.

Blue Origin on Thursday completed the fourteenth test flight of its New Shepard rocket booster and capsule. Called NS-14, the successful test flight featured the debut of a new booster and an upgraded capsule. Beyond the upgrades, CNBC has learned that NS-14 also marked one of the last remaining steps before Blue Origin flies its first crew to space.

The flight was the first of two “stable configuration” test flights, people familiar with Blue Origin’s plans told CNBC. Stable configuration means that the company plans to avoid making major changes between this flight and the next. Additionally, those people said that Blue Origin aims to launch the second test flight within six weeks, or by late February, and the first crewed flight six weeks after that, or by early April.

We shall see. The sources are anonymous, and thus not entirely reliable. Furthermore, this schedule is far faster than the pace that Blue Origin has traditionally set.

At the same time, the competition to get those first suborbital passengers in space is heating up, as Virgin Galactic is rumored to have a somewhat similar schedule. Moreover, the first entirely private manned orbital tourist mission by SpaceX is presently set for October. If these two suborbital companies fail to begin manned flights before SpaceX their ability to garner customers will be sorely damaged.

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Virgin Galactic’s first Unity launch from New Mexico fizzles

3:54 pm

Capitalism in space: Virgin Galactic’s first attempt to launch its SpaceShipTwo Unity suborbital spacecraft from its New Mexico spaceport ended almost immediately after the ship was released from WhiteKnightTwo when its engines did not ignite.

All appeared normal during the flight’s early phases. VSS Unity was carried into the air by its twin-fuselage mothership, known as WhiteKnightTwo VMS Eve, and was released to fly free at an altitude of more than 40,000 feet.

A webcast provided via NASASpaceflight.com showed the flash of the plane’s hybrid rocket motor lighting up, but only for a second. After the flame-out, Test pilots Dave Mackay and C.J. Sturckow brought Unity back down to the spaceport for a gliding landing.

I wish Virgin Galactic well, but at this point consider the company a backwater in the drive to develop a commercial space tourism industry. It took them too long to get to this point. Even if they should start flying tourists next year, they will be competing with orbital tourist flights by SpaceX, and the contrast is stark. I simply no longer see a viable customer base for Virgin Galactic, unless they get a lot of government subsidies.

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Virgin Galactic cancels its announced November suborbital flight

9:38 am

Capitalism in space: Virgin Galactic announced yesterday that it has canceled its announced November suborbital flight, claiming the cause were new COVID-19 guidelines imposed by the New Mexico Department of Health.

The flight had been scheduled for the November 19-23 time period. It had been announced with the typical hype that comes from Richard Branson.

Personally, I don’t believe Branson or Virgin Galactic as to the cause of this flight cancellation. I think they either never intended to fly, or have known for some time that new technical problems would prevent its launch as scheduled. I think they hyped the launch despite this, which conveniently pumped up the stock price at a time Branson was selling stock. They now announce the cancellation, the stock drops, but Branson has already pocketed his profits.

The timing of this announcement is also most ironic, as it occurred on the same day SpaceX docked four astronauts on ISS. Branson’s company began building its suborbital spacecraft in 2004, promising that it would soon fly hundreds, even thousands of private passengers into space. Sixteen years later it has never flown one passenger, and very few manned test flights. In the interim SpaceX built its Falcon 9 rocket and Dragon capsule, and is now launching passengers to orbit, with its first entirely private launch scheduled less than a year from now.

The comparison is quite stark. Why anyone would invest real money in this fake company at this point baffles me.

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The sad story of Virgin Galactic

10:24 am

Link here. This so-called suborbital space tourism company, which for years has promised to fly tourists on suborbital flights to space but failed to do so, appears now to be trying to shift gears and instead make itself into a company building supersonic airplanes.

Richard Branson’s dream of a suborbital Virgin Galactic vehicle zipping passengers between distant cities at hypersonic speeds above Mach 5 (6,174 km/h, 3,836 mph) is dead. At least for now.

In August, the space tourism company he founded pivoted to a slower supersonic Mach 3 (3,704 km/h, 2,302 mph) business jet. Virgin Galactic unveiled a mission concept for an aircraft that would carry 9-19 passengers at a cruising altitude of 60,000 ft (18,288 m).

Since Branson began selling off his stock in May and became a minority owner in the company, the new management has apparently shifted its focus away from suborbital space tourism to building a supersonic airplane for commercial travel on Earth.

The problem is that there are already a lot of companies working to do this, and Virgin Galactic is in last place, even as it scrambles to find new investment capital simply to begin development.

After sixteen years, this company has so far accomplished nothing, while spending probably more than $2 billion in private capital. It now wants more, even as Richard Branson has sold off his stock at a nifty profit. (I am no stock market expert, but if I has any interest in buying stock (I do not), this would not be the stock I’d buy.)

Branson however is not entirely off the hook. His entire empire, built on transportation and tourism, is in big trouble because of the Wuhan panic. It might now all collapse, tragically crashing to Earth as did the first SpaceShipTwo several years ago.

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Spaceport America in New Mexico fires its head

3:26 pm

The board of Spaceport America, Virgin Galactic’s launchsite for its SpaceShipTwo suborbital manned spacecraft, yesterday fired its long time Executive Directory Dan Hicks, at the same time governor of New Mexico removed one board member.

Hicks, the spaceport’s CEO since 2016, has been on administrative leave since June while allegations of mismanagement and abuse of authority have been under investigation by the New Mexico State Auditor and the New Mexico Spaceport Authority, the public body governing the spaceport.

The McHard Accounting Consulting firm, a forensic accounting firm based in Albuquerque, conducted an investigation which was then referred to the state auditor. Keyes informed a state legislative committee this summer the allegations included potential criminal activity.

Spaceport American had been made gigantic promises by Richard Branson back in the mid-2000s, including hundreds of tourist flights per year on SpaceShipTwo, all of which would bring lots of cash to the spaceport and to New Mexico. All came to naught. I suspect those failed promises are somehow connected to the accusations here.

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First scientist chosen to fly on Virgin Galactic’s SpaceShipTwo

9:20 pm

Planetary scientist Alan Stern, who is also the principal scientist on the New Horizons mission, has been chosen to be the first scientist to fly on Virgin Galactic’s suborbital SpaceShipTwo, should it ever begin commercial flights.

One SwRI experiment on the just announced flight will involve Stern operating a former space shuttle and NASA F-18 low light level camera to determine how well space astronomical observations can be conducted. In addition, Stern will be fitted with instrumentation that continuously monitors human vital signs from just before the two-hour flight until after its landing as a biomedical experiment. The results of both experiments will be published.

I hope it happens, but personally I have great doubts. We now have more than fifteen years of similar big announcements about what Virgin Galactic will do with its suborbital spaceship, with nothing to show for it. Right now I see these stories as mere fodder by people like Richard Branson to push up the stock’s price so he can make more money selling it as he eases his way out of the company.

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Virgin Galactic searching for profits outside of space tourism

7:52 am

Not a surprise: After almost two decades of development and no commercial suborbital tourism flights, the new management of Virgin Galactic (with Richard Branson having sold off his majority shares) is now searching for other ways to make money with its assets.

Among them, renting out the WhiteKnightTwo (WK2) launch support aircraft for government or private businesses to use for science, research, and national security applications. There’s just one problem: Legally it cannot do that.

Because WhiteKnightTwo is considered an experimental aircraft by the Federal Aviation Administration using it in this manner would be a violation of 14 CFR 91.319(a)(2), which states that “no person may operate an aircraft that has an experimental certificate – (1) For other than the purpose for which the certificate was issued; or (2) Carrying persons or property for compensation or hire.” In a filing made Tuesday The Space Company and Virgin Galactic jointly petitioned for exemption from the regulations.

It appears the new management is recognizing that the suborbital tourism market is weak (with the coming of orbital tourism), and needs to shift gears, any way it can.

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Virgin Galactic again delays first commercial flight

9:12 am

Capitalism in space: Virgin Galactic, which has been repeatedly delaying its first commercial flight for more than a decade, has done so again, stating that it will not occur until 2021.

The company, in its fiscal second quarter financial results released Aug. 3, said it expected to perform two more test flights of SpaceShipTwo from Spaceport America in New Mexico, both of which will be powered flights. The vehicle has made two glide flights since moving to the spaceport early this year.

The first of those powered flights, scheduled for the fall, will have two pilots on board. It will also carry payloads for NASA’s Flight Opportunities program that arranges flights of experiments on suborbital vehicles, said George Whitesides, chief space officer and former chief executive of Virgin Galactic, in a company earnings call.

If that flight goes as expected, Virgin Galactic will then perform a second flight, this time with four mission specialists on board along with the two pilots. Those mission specialists “will evaluate the performance of our full customer cabin and associated hardware,” he said. The company unveiled the design of the cabin July 28, although Whitesides said they were still completing the installation of the cabin on the company’s current SpaceShipTwo vehicle, VSS Unity.

“Presuming things go as expected on this fully-crewed flight, we would then plan to fly Sir Richard Branson on the third powered flight from New Mexico,” he said. That flight would take place in the first quarter of 2021 and mark the beginning of commercial service, although Whitesides said it will also be a test flight of sorts. “Sir Richard is in a unique position to provide the ultimate cabin and spaceflight experience evaluation, as a visionary of the Virgin customer experience.”

The company also announced that it intends to sell stock shares to raise more capital. Right now the stock is selling for about $20.

I am no expert on the stock market, but to my mind this company’s chances of making big profits from suborbital flights is slim to none. They might make some money, but hardly enough ever to repay their investors. Virgin Galactic’s window for making big money in suborbital tourism closed forever with the success of SpaceX’s manned Dragon flight to ISS. The space tourism market is shifting to orbital space, something Virgin Galactic cannot provide. Worse, the cost for getting to orbit continues to drop, while this company can’t reduce its prices much.

Virgin Galactic provides a weak product in the present market, one that can only become weaker when compared to its competitors.

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Trump official skeptical of point-to-point suborbital transportation

8:45 am

During the FAA’s annual commercial space conference, the executive secretary for Trump’s National Space Council, Scott Pace, expressed strong skepticism about plans by some companies to develop point-to-point transportation using suborbital spacecraft.

“I still see that as somewhat speculative and somewhat over the horizon,” he said. “I see us working right now on trying to get the suborbital market up, running and sort of stabilized. I think people look forward to the possibility of point-to-point passenger and cargo travel, but right now just getting routine suborbital access to space and pushing hard on the unmanned hypersonic and military applications is where the action is.”

“Maybe it’s not too soon to think about,” he added, “but I still think that’s a bit farther out until I see how the initial market settles out.”

In this context Pace noted his primary focus was in helping Virgin Galactic and Blue Origin get their space tourism businesses off the ground. Virgin Galactic has been making noises that it wants to do point-to-point transportation as well. His skepticism of this is actually quite realistic, since Virgin Galactic has not even completed its first commercial tourism flight and its rocket and spacecraft are underpowered as well.

If Pace’s skepticism is however aimed at SpaceX’s Starship plans to do point-to-point transportation, he is exhibiting a typical Washington bureaucrat’s timidity about new technology.

Meanwhile, Virgin Galactic has gotten a contract from NASA to train private astronauts. To my mind this is NASA’s attempt to keep this company above water, as it certainly isn’t the most qualified to do this kind of training. If I wanted training for going on a private space mission, SpaceX and Boeing would be better places to get that preparation.

The deal however has done wonders for Virgin Galactic’s stock, causing it to rise almost 16% yesterday following the announcement of this contract. Great timing for Richard Branson, who by coincidence just happens to be trying to sell some of his stock at this moment.

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Branson selling 25% of Virgin Galactic shares to save airline business

9:19 am

Capitalism in space:It appears that Richard Branson is selling about 25% of shares in Virgin Galactic in order to prop up his airline and travel businesses that have been crushed by the Wuhan flu panic.

Branson’s Virgin Group may sell as many as 25 million shares in the space-travel firm, with the proceeds going to his leisure and travel businesses, according to a statement on Monday. The 69-year-old Briton is trying to save Virgin Atlantic, which has struggled to qualify for a UK-supported loan program aimed at helping businesses survive the worldwide coronavirus pandemic. He’s seeking outside investors for the airline, while also weighing an infusion of his own funds.

The irony here is that Virgin Galactic has been a big financial money sink since its inception in the mid-2000s, having never flown a single customer in its fifteen-plus year existence. However, Branson has bamboozled a lot of people into buying its stock in the past year, since it went public, causing the stock to rise from its initial price of about $12 to about $18 to $20. This sell-off gives Branson an almost 100% profit on the stock, a good deal indeed for him, even if the company never makes a dime.

He says he is pumping the money back into his other businesses, but we shall see.

What the sale means however is that Branson no longer has a majority share in Virgin Galactic. The biggest shareholder is now Social Capital Hedosophia, created by venture capitalist Chamath Palihapitiya.

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SpaceShipTwo Unity makes first New Mexico glide flight

7:42 am

Capitalism in space: Virgin Galactic’s Unity suborbital spaceship successfully completed its first glide test flight from its New Mexico launch site yesterday.

They still have not set a date for their first commercial flights, so the company still claims those first flights will occur this year. I will believe it when I see it.

There does appear to be one apparent positive development for Virgin Galactic. It increasingly appears as if Blue Origin is slowly abandoning its effort to compete for suborbital tourism with its New Shepard spacecraft. Blue Origin has not said so, but the extreme slow down in test flights the last two strongly implies it. Moreover, that company’s success in garnering big government contracts, a billion from the military for its orbital New Glenn rocket and about a half billion from NASA for its proposed Blue Moon manned lunar lander, reinforces the sense that the company is shifting its focus away from suborbital space.

If so, that will clear the market for Virgin Galactic, assuming a viable market still exists with the coming of private commercial orbital spaceships like Dragon and Starliner.

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